MOKAN Wealth Management Inc. Invests $573,000 in T. Rowe Price Group, Inc. (NASDAQ:TROW)

MOKAN Wealth Management Inc. purchased a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 4th quarter, HoldingsChannel reports. The fund purchased 5,063 shares of the asset manager’s stock, valued at approximately $573,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Iron Horse Wealth Management LLC increased its stake in T. Rowe Price Group by 90.9% in the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 110 shares in the last quarter. Y.D. More Investments Ltd grew its holdings in shares of T. Rowe Price Group by 124.0% during the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after buying an additional 155 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of T. Rowe Price Group during the fourth quarter valued at about $32,000. True Wealth Design LLC acquired a new position in shares of T. Rowe Price Group during the third quarter valued at about $37,000. Finally, Larson Financial Group LLC grew its holdings in shares of T. Rowe Price Group by 866.7% during the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after buying an additional 312 shares during the last quarter. 73.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TROW shares. JPMorgan Chase & Co. reduced their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Morgan Stanley lifted their price objective on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Evercore ISI boosted their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. TD Cowen cut their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $115.09.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the sale, the vice president now directly owns 36,800 shares in the company, valued at $4,021,136. This trade represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Stock Down 0.1 %

NASDAQ TROW opened at $107.17 on Friday. The company’s 50 day moving average is $114.21 and its 200-day moving average is $112.36. T. Rowe Price Group, Inc. has a 12-month low of $100.49 and a 12-month high of $125.81. The firm has a market cap of $23.81 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.91%. During the same quarter in the prior year, the business posted $1.72 earnings per share. Equities analysts expect that T. Rowe Price Group, Inc. will post 9.36 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $1.27 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 annualized dividend and a dividend yield of 4.74%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s payout ratio is 54.15%.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.